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corporations are appropriating more power over people every day
China has created brand-new form of capitalism: Bill Gates
DAVOS, Switzerland, (AFP) - US software giant Bill Gates has high praise for China, which he says has created a brand-new form of capitalism that benefits consumers more than anything has in the past.
"It is a brand-new form of capitalism, and as a consumer its the best thing that ever happened," Gates told an informal meeting late Friday at the World Economic Forum in this ski resort.
He characterised the Chinese model in terms of "willingness to work hard and not having quite the same medical overhead or legal overhead."
Originally posted by smallpeeps
Ahh yes, the communist worker and his 'lack of medical overhead'.
[LatelineNews: 2005-1-29] DAVOS, Switzerland - Bill Gates, the founder of Microsoft Corp and the world's richest man, is expecting the dollar to fall further while China continues its phenomenal growth.
"The old dollar, it's going to go down," he told a fringe meeting at the World Economic Forum late on Friday. "I am short of the dollar."
Echoing the views of many other executives in Davos, Gates said the size of the U.S. trade and budget deficits was alarming.
"It's a bit scary. We are in uncharted territory having the world's reserve currency having so much outstanding debt," he said.
China, meanwhile, was an emerging powerhouse that would continue to drive down prices in the years ahead as its promotes what Gates described as a brand new form of capitalism.
"China is the change agent for these next 20 years, in terms of what's competitive and how things get done," Gates said.
"It's the most deflationary thing that ever happened because as you get more IQ in the planet designing good products you get these scale economies that are just phenomenal."
Originally posted by boogyman
. In my opinion when a corporation takes over the functions of a state it becomes the state.
when a corporation takes over the functions of a state it becomes the state.